Friends
Today was a little more difficult for those releasing earnings with Caterpillar and AT&T both struggling while Boeing’s problems produce a more mixed result for its shares. In total the earnings releases that we have seen so far have us just slightly off of last quarter. Surely, not nearly as bad, so far, as the most gloomiest among us had expected.
By the close, the Dow Jones Industrial Average was down 59 points to finish the day at 26,597. The S&P 500 was down 6 points to close at 2,927. Gold was up $4 to trade at $1,277 per ounce, while oil was down $.53 to trade at $65.77 per barrel WTI.
After the close, we get earnings from Facebook, Microsoft and Tesla. Expect some fireworks with those names reporting. Again, so far earnings have been ok and stocks have reacted mostly favorable to the releases. But, we still have not convincingly broken to new highs, so the bulls might begin worry about a double top if this earnings season can’t propel stock indices through those previous highs. We’ll continue to monitor the situation and keep you informed. Stay tuned.
Have a nice evening everyone.
